Pros and Cons Essay Example for Free

Pros and Cons Essay Globalization can be defined as the increasing flow of products, people, money, and ideas across the globe. National economies are being swept into the global economy. One can thus think of globalization as rushing through four channels: †¢ Freer trade goods; †¢ Freer mobility of labor; †¢ Freer investment; and †¢ Freer communication, thanks to telecommunications and the Internet. Pros and Cons 1. Capitalism Free enterprise is now the dominant economic system in the world. China is very much capitalist and her late Communist Party leader Deng Xiaoping coined the slogan, â€Å"To get rich is glorious. † Only Cuba and North Korea are holding on to the central planning system of running the economy. Capitalism brings along free trade and the free flow of money across the earth. Countries belonging to the World Trade Organization are trying to bring down tariff barriers. Today, immense portfolio investments zip in and out of countries at the click of a mouse (Baylis Smith, 2001). With free trade comes economic integration. It is possible to download an album of songs in the United States of America, turn it into CDs in Europe, print the cover and lyric sheet in France, and sell it in Asia. The greatest story of economic integration is the European Union, with its common currency, the euro (Brecher Costello, 2004). 2. Information economy Another driving force is the knowledge economy. Land, labor and capital are bowing in importance to brain creativity. In the United Kingdom, over a three-year span, manual jobs dropped by 750,000, while professional jobs shot up by 1. 5 million (Brecher Costello, 2004). 3. Mass Media The invention of the printing press helped scattered people become a national community. In the same way, the evening news is nurturing world’s community. The suffering in India and Indonesia are brought home through CNN. 4. Telecoms There is a global boom in telecommunications. A fourth of all Europeans, have mobile phones. The people in Finland gave the greatest access to cell phones at 417 for every 1,000 people (Brecher Costello, 2004). Reference: 1. Baylis, John, and Smith, Steve, eds. The Globalization of World Politics. 2nd ed. , 2001. Oxford: Oxford University Press. 2. Brecher, Jeremy, and Costello, Tim. Global Village or Global Pillage: Economic Reconstruction from the Bottom Up. Boston, MA: South End Press, 2004. Radical critique of recent patterns of economic globalization.

Using Calculus to Model Epidemics Essay -- SARS, MERS, pathology, epide

With the recent scare of a so-called Severe acute respiratory syndrome-like (SARS) virus called Middle East Respiratory Syndrome coronavirus (MERS – CoV) that so far has unknown origins and has a astounding mortality rate of 47.6% , I began to wonder about the complexities of disease outbreaks and the mathematics behind epidemics. That’s when research led me to realize that it was possible to model epidemics using calculus. As a pathofobiac, I’ve always been intrigued, and scared, of, diseases - constantly reading statistics regarding different diseases, examining how they spread an calculating the chances of any of them ever infecting me or any of my loved ones. So when the opportunity came to do a math exploration, I thought it would be interesting to look into the mathematics behind disease spread. The aim of this exploration is to investigate and examine one epidemic model and then attempt to apply it to a scenario and determine if it’s a realistic and accurate model. The Initial model Although Epidemic modeling depends on a variety of factors, which will be discussed later on (such as the type of disease and its rate of spread) the initial model takes into account the major factors to produce a simplistic model. Firstly, the initial model takes into account the very basic assumptions that are listed below â€Å"1. SIR: All individuals fit into one of the following categories: Susceptible: those who can catch the disease. Infectious: those who can spread the disease. Removed: those who are immune and cannot spread the disease 2. The population is large confined to a well-defined region. You might imagine the population to be a large university during the semester, when relatively little outside travel takes place. 3. The popu... ...culty of The University of Iowa) Centers for Disease Control and Prevention. Middle East Respiratory Syndrome (MERS). 3 September 2013. 3 September 2013 . Department of Statistics at Columbia University. Introduction to Epidemic Modelling. Unknown Unknown Unknown. 28 August 2013 . KidsHealth. Chickenpox. Unknown Unknown Uknown. 1 September 2013 . Maps of World. Population Mexico (Poblacion de Mexico]). Unknown Unknown Unknown. 2 September 2013 . Mathematics Faculty of The University of Iowa. Using Calculus to Model Epidemics. Unknown Unknown Unknown. 24 August 2013 . Using Calculus to Model Epidemics Essay -- SARS, MERS, pathology, epide With the recent scare of a so-called Severe acute respiratory syndrome-like (SARS) virus called Middle East Respiratory Syndrome coronavirus (MERS – CoV) that so far has unknown origins and has a astounding mortality rate of 47.6% , I began to wonder about the complexities of disease outbreaks and the mathematics behind epidemics. That’s when research led me to realize that it was possible to model epidemics using calculus. As a pathofobiac, I’ve always been intrigued, and scared, of, diseases - constantly reading statistics regarding different diseases, examining how they spread an calculating the chances of any of them ever infecting me or any of my loved ones. So when the opportunity came to do a math exploration, I thought it would be interesting to look into the mathematics behind disease spread. The aim of this exploration is to investigate and examine one epidemic model and then attempt to apply it to a scenario and determine if it’s a realistic and accurate model. The Initial model Although Epidemic modeling depends on a variety of factors, which will be discussed later on (such as the type of disease and its rate of spread) the initial model takes into account the major factors to produce a simplistic model. Firstly, the initial model takes into account the very basic assumptions that are listed below â€Å"1. SIR: All individuals fit into one of the following categories: Susceptible: those who can catch the disease. Infectious: those who can spread the disease. Removed: those who are immune and cannot spread the disease 2. The population is large confined to a well-defined region. You might imagine the population to be a large university during the semester, when relatively little outside travel takes place. 3. The popu... ...culty of The University of Iowa) Centers for Disease Control and Prevention. Middle East Respiratory Syndrome (MERS). 3 September 2013. 3 September 2013 . Department of Statistics at Columbia University. Introduction to Epidemic Modelling. Unknown Unknown Unknown. 28 August 2013 . KidsHealth. Chickenpox. Unknown Unknown Uknown. 1 September 2013 . Maps of World. Population Mexico (Poblacion de Mexico]). Unknown Unknown Unknown. 2 September 2013 . Mathematics Faculty of The University of Iowa. Using Calculus to Model Epidemics. Unknown Unknown Unknown. 24 August 2013 .

Bmw and Peugeot

[pic] MBA 503: Managerial Decision Making: Financial Analysis Professor: Sameer Mustafa [pic] [pic] INVESTMENT IN AUTOMOBILE INDUSTRY: BMW OR PEUGEOT Section F12N72 Team members: Ranjan Saha Sam Khassawneh Elena Dugarova Executive Summary This report provides a financial analysis and assessment of two automobile companies Bayerische Motoren Werke (BMW Group) and PSA Peugeot Citroen. Methods of analysis include comparison and evaluation of financial ratios, financial SWOT, R&D and cash flow analyses. All calculations can be found in the appendices.Results of data analyzed show that both companies have strengths, weaknesses, threats and opportunities, but Peugeot has more strengths and opportunities in terms of long-run prospective, than in BMW. After analyzing both companies we recommend to invest in Peugeot. Table of Content 1. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. â⠂¬ ¦Ã¢â‚¬ ¦.. 2. SOWT Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦ 1. BMW Strengths †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2. BMW Weaknesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3. BMW Opportunities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. BMW Threats †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5. Peugeot Strengths †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6. Peugeot Weaknesses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7.Peugeot Opportunities †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8. Peugeot Threats †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3. Comparison of two companies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. Recommendations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5. Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6. Appendices †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7. References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1. Introduction This report provides data on the financial situation of two well-known automobile brands, BMW Group and PSA Peugeot Citroen, over 2009 and 2011. The purpose of the report is to evaluate the financial situation of these companies in order to make an investment decision in any of these companies.First part of the report provides brief description about the companies followed by the situation analysis of both companies. Third part of the report illustrates the comparison followed by recommendation and conclusion. The recommendation will be made based on the result of the situation analysis. BMW Group was founded in Germany in 1917. This is one of the most prospering automobile, motorcycle, and engine manufacturing companies. BMW Group has three one of the finest brands in this industry: BMW, MINI and Rolls-Royce (Annual report, 2011, p. 3).The other company PSA Peugeot Citroen was founded in Paris in 1976. PSA Peugeot Citroen offers automobiles and motorcycles worldwide (PSA Peugeot Citroen, 2012). Nowadays this automobile company is supplying its products to China, Latin America, Russia and Europe (Annual report, 2011, p. 4). 2. Situation analysis for BMW and Peugeot The following section will discuss the financial strengths, weaknesses, threats and opportunities of both companies. 2. 1 Strengths of BMW 2. 1. 1 Sustainability of the company Maintaining the profitability is vital for any firm in order to be remaining sustainable.From the profitability test, it is apparent that the company improved it’s profitability over the year 2009 to 2011. Gross profitability increased significantly from 13. 96% in 2009 to 24. 38% in 2010 and continued to climb up to 27. 79 by the end of 2011. 2. 1. 2 Excellent creditworthiness BMW has been assigned credit rating status as â€Å"stable† by both Moody’s (rating A2) and Standard & Poor (rating A) which indicates the firm’s sound solvency position to debt (www. bmwgroup. com). In addition, their interest cover ratio provides very positive indication as it increased from 3. 36 in 2009 to 9. 54 in 2011.By utilizing this status company will be able to attract potential creditor with lower interest rate. Therefore, their profitability will increase due to the lower interest expenditure. 2. 1. 3 Increase investment in research and development Investment in research and development (R&D) is significantly important in order to take competitive advantage and mai ntain sustainable growth. BMW is committed to in R&D to meet current and future demand. Their expenditure rose up by 13. 3%? to â‚ ¬2,773 million from 2010 to 2011. One of the most advantages of BMW is creative production (Annual report BMW, 2011).They invested extensively in the past 3 years towards improving the environment and reduction of the CO2 emissions by 30 %. They also introduced fuel efficient product line such as BMW i models in order to meet the current demand. Moreover, BMW is searching for alternative energy solution by electrification and utilizing solar energy in their future product range. By introducing new product line BMW could take competitive advantage over it competitors by attracting environmental friendly customers which would maximize their profit as well as their image as innovative company. 2. 1. Commitment to Employees training The company values its human resources and invests in attracting and training skilled workforce to boost the quality of its products by reducing error rate, waste in production. It will also help BMW to strengthen customer relation as trained employees would able to communicate with confident by utilizing their knowledge and skills which will increase customer satisfaction. Moreover, due to the training employees will gain confidence to communicate more clearly with management which will improve the relationship between employee and management.As a result disputes between labour union and BMW will be reduced (Bloom & Lafleur, n. d. pp 5 – 9) In 2011 expenditure on basic and further training rose sharply by 37. 4% to â‚ ¬246 million (Annual report BMW, 2011). 2. 1. 5 Social responsibility BMW signed the UN Global Compact and issued a â€Å"Joint Declaration on Human Rights and Working Conditions which demonstrates that BMW complies with the fundamental working standards of the International Labor Organization (Annual Report BMW, 2011). It also indicates that BMW is a socially responsible firm w hich will have a positive impact on the image of the company (Murillo & Martinek, 2009).BMW’s image as a good citizen would help to attract potential investors, creditors and customers who care about social responsibility of any company. 2. 2 Weaknesses BMW 2. 2. 1Operating efficiency Receivable turnover has sharply declined from 55. 04 in 2009 to 15. 93 in 2011. Inventory turnover has also declined from 14. 50 in 2010 to 5. 43 in 2011. Both ratios are below the industry norm, which indicates that management was not efficient enough to collect its receivables. This also indicates that sales and marketing department didn’t perform well compare to the competitors to increase the sales. . 2. 2 Sharp decline in sales: In 2011 BMW’s sales dropped by 37 % in the US which is the largest market outside Europe. If it continues to decline, BMW may lose market share significantly which would have a very negative impact on the profitability as well as it would be a threat t o the sustainability of the company. 2. 2. 3 Liquidity BMW’s ability to meet the short-term financial obligation is low comparing to the industry norm. If BMW don’t pay attention to increase the liquidity, it could turn into a threat from weakness. 2. 2. 4Market shareDecreasing global market share for BMW. It goes down from 2. 89% in 2005 to 2. 45% in 2010. (www. statista. com). This shows that demand BMW’s cars are decreasing which is a bad sign for company. 2. 3 Opportunities BMW 2. 3. 1 Utilizing the exist technology to produce more environmental friendly products: As this issue became an important for the society. (BMW Annual report, 2011, p. 19) states, â€Å" In September 2011, SGL Automotive Carbon Fibers – a joint venture of the BMW Group and the SGL Group – opened a new state-of-the-art carbon fiber manufacturing plant in Moses Lake, USA.The facility plays a major strategic role in the manufacture of ultra-lightweight carbon-fiber reinfor ced plastics (CFRP), which will be used extensively in the BMW i vehicles to be launched by the BMW Group from 2013 onwards†. BMW group is already having this idea, but they could get more profit if they increase the art carbon fiber plants. 2. 3. 2 Growth in Asia: Asian countries are encouraging the foreign investment and they have a cheap labor. In addition, the cost of capital is cheaper than Europe. These factors lead to less cost of production and higher revenue.In order to gain this benefit BMW adopted â€Å"Completely Knocked Down† (CKD) assembly to manufacture automobiles with partners in six locations such as Thailand, Malaysia, Russia, Egypt, Indonesia and India (www. bmwgroup. com ). This would help BMW to attract the large Asian market as well as increase market share in the region. 2. 3. 3 Increasing demand on sports car BMW is already produced a few sport cars and they have to increase the number of sport cars and promote them to championships and customer s who like this type of cars. In July 2011,  BMW  pulled the covers off of the  BMW M3 DTM Concept Car, a vehicle that was to be the basis of the actual racer that will compete in the 2012 DTM season† (www. topspeed. com). 2. 3 Threats BMW 2. 3. 1 Euro zone crisis: Current economic slowdown along with sovereign euro zone crisis may tremendously hurt the company as sales are declining in Europe. It might pose even greater threat if bigger economies like Italy and Spain has to default like Greece which will lead Europe into a recession (World Economic Forum, 2012).It would not only affect BMW’s sales in Europe but also rest of the world because recession in the EU will have adverse effect in the world’s economy (International Monetary Fund, 2012). 2. 3. 2 Changes in Trend: Recent trend in the usage of car, where wealthy people prefer cheaper/affordable cars instead of luxurious car (24/7 Wall Street, 2012). Due to this trend, BMW as a luxurious car manufactur er might lose sales revenue and market share. Ultimately, it would have negative impact on the sustainability of the company. 2. . 3 Disputes with labour union: Labour union in Germany is very strong where firing employee is very costly (Global Competitiveness Index, 2012). Any dispute with the labour union could have significantly negative impact on the business operation as union could go for strike which will break the whole supply chain. 2. 4 PSA Peugeot Citroen 2. 4. 1 Strengths Peugeot 2. 4. 2 Sustainability of the company Company’s overall profitability significantly increased from very negative profitability in 2009(gross profit on sale -3. 0% and return on sale -5%) to a positive profitability in 2011 (gross profit on sale 17. 10% and return on sales 1. 50%), which demonstrates management’s extraordinary performance to bring the company back into a sustainable position. 2. 4. 3 Operating Efficiency Over the years from 2009 to 2011 Peugeot demonstrated continuo us improvement of its operating efficiency as management was improved efficiency to collect receivables (receivable turnover 20. 63 in 2009 and 26. 98) as well as increased inventory turnover (7. 14 in 2009 and 9. 06 in 2011) which is higher than industry norm (6. 4).Though receivables turnover is lower than industry norm (34), Peugeot’s continuous improvement indicates that management is paying attention to improve in order to maintain the capacity of operating assets. 2. 4. 4 Diversified business segments Diversification in the business segment reduces the risk of failure as it reduces company’s dependency on one single segment (The Economics Times, 2012) The Group's operations are organized in five main business segments: the Automotive Division, the Automotive Equipment Division, the Transportation & Logistics Division, the Finance Division and other businesses. These segments increased revenue by 6. % from â‚ ¬56061million in 2010 till â‚ ¬59912 million in 2 011 (Annual report BMW, 2011). Due to the diversified business segments Peugeot will be able to offset of one segment’s loss from other segment’s profit. 2. 4. 5 Investment in research and development To meet the current and future demand Peugeot invest heavily in research and development. This French auto manufacturer has maintained its R budget at â‚ ¬2152 million in 2011, or 3. 6% of revenue in order to secure sustainability in the future (www. peugeot. com). In 2011, PSA Peugeot Citroen was the most active patent filer in France with 1,237 patents in all.This performance demonstrates the positive outcome of its exceptional investment in R. New patents would enhance the innovative product line which would differentiate Peugeot’s product from its competitors in order to gain competitive advantage. This indicates better future for Peugeot. 2. 4. 6 Affordable price with good quality PSA Peugeot Citroen offers high quality distinctive cars for affordable price and specifically targets middle class (annual presentation 2010 PSA Peugeot Citroen). It would help Peugeot to gain market share faster in the emerging market such as China, Brazil and India where the number of middle class is very large.Higher market share in the emerging markets would strengthen Peugeot’s position in the global automotive industry. 2. 5 Weaknesses Peugeot 2. 5. 1 Creditworthiness Recently, Peugeot’s credit rating has been downgraded from â€Å"stable† to â€Å"negative† by both international credit rating agency Standard & Poor and Moody’s which would negative impact on creditors confidence. As a result, their interest rate will increase as creditors might feel risky to invest (Mustafa, 2012, Class lecture). However, French government’s â‚ ¬7b credit guarantee for Peugeot might help to maintain creditor’s confidence which will keep the interest expense stable. . 5. 2 Declining sales in Europe: Peugeot’s s ales declined by 5. 75% in 2010 in Europe, it’s largest market and it remained stable in 2011. Moreover, sales dropped further by 10. 8% by the end of September 2012 (European Automobile Manufacturers’ Association, 2012) It indicates a potential threat for Peugeot to losing market share in Europe, if it continues further. However, increasing sales outside Europe 39% in 2011 compare to 32% in 2010 (Annual Report Peugeot, 2011) could help Peugeot to maintain market share in the global automotive industry. 2. 5. 3 Liquidity Since 2009 to 2011 Peugeot’s liquidity has declined from 1. 07 to 1. 4 which even lower than the industry norm. Decrease in liquidity could have negative impact on the operating activities as firm might run out of cash to meet short term obligations. 2. 6 Threats Peugeot 2. 6. 1 Unionized labour market: French labour market is strongly unionized which give labour union a very strong bargaining power. The recent announcement by Peugeot to cut 800 0 jobs in their French plant (BBC News, 2012) might create disputes with the union. Therefore, there is a huge risk that union could go for strike due to the dispute with Peugeot which might disrupt their supply chain and cost a considerable amount for the company.However, French government’s announcement to provide credit guarantee in exchange to keep these jobs (The New York Times, 2012) would help Peugeot to avoid dispute with the union. 2. 6. 2 Euro zone crisis: Economic downturn and euro zone crisis had a very negative impact on Peugeot’s sales in Europe as the market demand declined sharply which resulted a decline in sales by 5% in 2010 and. If it continues may be the sales will drop further. 2. 6. 3 Competition from other producers: Increasing market share gained by other affordable car producers such as Hyundai could hurt Peugeot. There is a risk that French firm could lose market share. . 7 Opportunities Peugeot 2. 7. 1 New Trend Peugeot would be able to attr act customers with high income people due to the new trend as more rich people buy affordable price car (24/7 Wall Street, 2012) This is a very positive indicator for Peugeot to increase market share by attracting this large segments. 2. 7. 2 Market shift to globalization Peugeot is focusing on specific markets in the world. Since globalization is facilitating world trade, Peugeot would benefit significantly from it’s expansion to the emerging markets in Asia, Latin America and Middle East (The New York Times, 2012). . 7. 3 Increase the demand of hybrid electric cars PSA Peugeot has a joint venter with GM to produce hybrid cars. The joint arrangement agreement was signed on 25 October 2011. The Group is committed to providing total capital of â‚ ¬63 million, of which â‚ ¬13 million had been paid as of 31 December 2011. Registered in the Netherlands. (Peugeot annual report 2011) 3. Comparison of BMW and Peugeot This section compares and contrasts of both company in order to identify the better option for investment. 3. 1 Sustainability Both BMW and Peugeot improved their gross profit.BMW is around 10% more profitable in terms of gross profit ratio compare to Peugeot. However, Peugeot had higher return on sales which indicates that management of Peugeot was more capable to control it’s variable cost. Peugeot was also able to generate higher return from its asset compare to BMW as well as industry norm this demonstrates the management’s ability to utilize its asset in order maintain sustainable profit. 3. 2 Management efficiency Management efficiency is lower than the industry norm for both companies. However, Peugeot’s management is more efficient than BMW in collecting receivables.It is also more efficient in inventory turnover, which indicates that Peugeot’s sales, and marketing department is performing better than BMW. 3. 3 Diversified business segments Peugeot’s business segments is more diversified that BMW th is would help Peugeot to reduce the risk because it can cover the loss of one segment from another segments profit. 3. 4 Market share Even though BMW has higher market share in certain market. However, it has declined gradually over the past several years while Peugeot has increased market share in the emerging markets such as China, Russia, India and Latin America. This indicates better future for Peugeot. . 5 Credit ratings BMW’s credit ratings are better than Peugeot because BMW’s credit ratings have been improved from negative to stable. On the other hand, Peugeot’s credit ratings have been downgraded in 2012 (Moody’s 2012) As a result Peugeot’s borrowing cost might increase while BMW will benefit from the lower interest rates. 3. 6 Interest coverage ratio BMW’s interest cover ability is considerably better than Peugeot, which is 9. 54 and 1. 68 respectively. Due to higher interest coverage ratio it will create more confidence in BMW, wh ich will reduce interest expense. 3. 7 Liquidity Liquidity for both companies is below industry average.However, Peugeot has higher liquidity than BMW. This indicates that Peugeot has better ability to cover the short-term obligations. 3. 8 New trend Demand for Peugeot cars would be higher than BMW due to the changes in trend and customer’s preferences as wealthy people are buying cheaper cars. However, increasing demand for sports car would provide benefit to BMW. 3. 9 Euro zone crisis Euro zone crisis has significantly affected on both companies. However, Peugeot has increased sales outside Europe from 32% in 2010 to 39% in 2011 while BMW lost 37% sales in 2011 in the US which is their biggest market.Due to the increasing sales outside Europe, Peugeot will be able to maintain overall sales revenue though there is decline in sales revenue in the European market. 3. 10 Political risk Political risk could negatively effect on both companies. However, BMW is more vulnerable in the Middle Eastern countries which are one of their biggest market due to Arab spring. 3. 11 R Both companies invested heavily in R but Peugeot was able to generate more patents than BMW. In 2011 Peugeot had in total 1237 patents (Annual Report 2011 Peugeot).Higher capability of invention would provide competitive advantage to Peugeot as it will be able to meet the consumers demand. 4. Recommendation The above analysis illustrates that both companies has strengths and weaknesses. However, Peugeot has more strength and opportunities than BMW. Peugeot’s strengths and opportunities are better sustainability, higher management efficiency, diversified business segments, better match with new trend and increasing market share in the emerging market. These strengths demonstrate that investment in Peugeot would be a better choice as the company’s future seems to be stronger and more sustainable than BMW.These also indicate that investment in Peugeot would be less risky. Theref ore, we recommend investing in Peugeot. 5. Conclusion In conclusion, different factors were investigated in order to come up with right decision regarding the investment in BMW or Peugeot. Some of these factors are related to profitability, efficiency, debt, R & D and market position. Some other factors are related to their products’ quality and customer satisfaction. All of these factors were analyzed for three years starting from 2009 to 2011. In addition, the SWOT analysis played an important role in our decision-making.However, after analyzing both companies’ situation and looking at their strengths and opportunities, Peugeot was the best choice to invest in. References BBC News (2012) Peugeot Citroen plans 8000 job cuts. Available at http://www. bbc. co. uk/news/business-18808662 [accessed 11 November 2012] Bloom, M. R. & Lafleur, B. (n. d. ) Turning Skills into Profit: Economic Benefit of Workplace Education Program. The Conference Board. Available at http://www. conferenceboard. ca/Libraries/EDUC_PUBLIC/Skills_Profits. sflb [accessed 10 November 2012] Murillo, R. H. & Martinek,C. J. (2009) Corporate Social Responsibility Can Be Profitable.The Regional Economist. Available at http://research. stlouisfed. org/publications/regional/09/04/socialresponsibility. pdf [accessed 8 November 2012] The Economics Times (2012) Nine Diversified Companies: Are these firm attractive investment proposition. Available at http://economictimes. indiatimes. com/features/slideshows/et-slideshows-made-here/nine-diversified-companies-are-these-firms-attractive-investment-propositions/nine-diversified-companies-are-these-firms-attractive-investment-propositions/quickiearticleshow/7390833. cms [accessed 5November 2012] The New York Times (2012) France to back Peugeot With 7 billion euro in credit.Available at http://www. nytimes. com/2012/10/24/business/global/france-to-back-peugeot-with-7-billion-euros-in-credit-guarantees. html? _r=0 [accessed 11 November 2012] Wo rld Economic Forum (2012) Global Competitiveness Report. Available at http://www3. weforum. org/docs/WEF_GCR_Report_2011-12. pdf [accessed 25 October 2012] International Monetary Fund (2012) Debt Crisis, as it happened. Available at http://www. telegraph. co. uk/finance/debt-crisis-live/9681567/Debt-crisis-as-it-happened-November-16-2012. html [accessed 16 November 2012] Appendices [pic] Figure 1: Source: [pic] Figure 2: Source: PSA Peugeot Citroen 2011 [pic]

The Short Happy Life of Francis Macomber by Ernest...

It is the mainstay of many pieces of classic American literature, especially those that fall into the category of pulp, to have thin, cardboard-cutout characters with obvious emotions and intentions for which their only purpose is to drive the story to a predetermined end. The seductive and dangerous femme fatale; codgerly old men; the badgering and nagging housewife, adorned with dress and apron; and etc... These characters, and the many like them, are set into a story to play a specific role—namely as a reactor—and force the protagonist in some direction. After all, what would a hero do if there was nothing heroic to be done? Sit around? Twiddle their thumbs...? These characters are, in some degree, necessary for the purpose of†¦show more content†¦In the story he plays the guide and is an experienced safari goer and hunter. He, as described, is â€Å"[...]about middle middle height with sandy hair, a stubby mustache, a very red face and extremely cold blue eyes[...]†(The Short Happy... Pg. 01) Throughout the story, Wilson is the person we most hear the thoughts of, scattered through the narrative are his opinions and comments, presented mentally, and although minor, lead to important understandings in the story. Wilson, in his experience, has probably learned to keep his own affairs private, and as well, to keep out of others. He does a commendable job of trying to help Francis forget about his blunder against the lion, and remove strain in situations involving both Mr. and Mrs. Macomber. He is a diplomat, though as the story will prove, not a very consistent one. He holds a lukewarm contempt for women, especially American women, whom he deems â€Å"cruel† (and perhaps, once we look at Margot, this is not without merit). He is socially introverted, and as so tries to keep away from the personal affairs of the Macombers, but in the end fails and sleeps with Margot Macomber after her many flirtations and a late night seduct ion in his tent. Wilson is strikes as a person of regret and self abasement. He seems to truly love what he does, hunting for sport, but is known, as the story tells, to break a few of the tenets ofShow MoreRelatedThe Short Happy Life Of Francis Macomber By Ernest Hemingway1296 Words   |  6 Pagesthe darker parts of their nature and the insecurities they hide within. The short story â€Å"The Short Happy Life of Francis Macomber† by Ernest Hemingway depicts the struggles between people caused by their weaknesses, yet are built upon the inner workings of gender roles, and how losing their fears could have let them break away from their cycle. The story starts with the wife, Margot Macomber, trying to join the men, Francis and Wilson, in conversation but they both quickly kick her from her wants inRead More Analysis of The Short Happy Life of Francis Macomber by Ernest Hemingway909 Words   |  4 PagesAnalysis of The Short Happy Life of Francis Macomber by Ernest Hemingway Ernest Hemingway is known for producing novels and short stories with ambiguous endings. In his short story, The Short Happy Life of Francis Macomber, he definitely leaves his readers guessing. The question is whether Margot kills her husband, Francis, intenionally, or if she accidentally shoots him in an effort to save his life. There are many points that could be argued for both conclusions, but my observationsRead MoreThe Short Happy Life of Francis Macomber by Ernest Hemingway Essay1229 Words   |  5 PagesThe Short Happy Life of Francis Macomber by Ernest Hemingway Death is not the biggest fear we have; our biggest fear is taking the risk to be alive. 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Ernest Hemingway’s short story, â€Å"The Short Happy Life of Francis Macomber,† is the quintessentialRead MoreErnest Hemingway: A Brief Biography 1210 Words   |  5 PagesErnest Hemingway was born in Oak Park, Illinois in 1899. He was a writer who started his career with a newspaper office in Kansas City when he was seventeen. When the United States got involved in the First World War, Hemingway joined with a volunteer ambulance unit in the Italian army. During his service, he was wounded, and was decorated by the Italian Government. Upon his return to the United States, he was employed by Canadian and American newspapers as a reporter, and sent back to EuropeRead MoreAnalysis Of Ernest Hemingways Portrayal Of Margot Macomber1112 Words   |  5 PagesErnest Hemingway’s Portrayal of Margot Macomber In the short story â€Å"The Short Life of Francis Macomber, Hemingway portrays many emotions and motivating forces behind his characters’ intentions. Ernest Hemingway experienced many historical events in his lifetime, in which, he endured humiliation and disappointment such as wanting to join the military, but being unable to due to a health condition (Young). Hemingway also underwent a divorce four times (Young). These experiences help influence Hemingway’sRead MoreThe Short Happy Life of Francis Macomber Essay801 Words   |  4 Pageshave nothing to fear, but fear itself.† Known by many, this common phrase has few words, but a intense meaning. In Ernest Hemingway’s short story, â€Å"The Short Happy Life of Francis Macomber,† the overcoming of fear is shown throughout the story. Francis Macomber and his wife Margaret Macomber are on an African safari with a man name Robert Wilson. Hemingway portrays Francis Macomber as wealthy and beautif ul, yet cowardly. Macombers wife Margaret also young and beautiful, but seemingly dissatisfiedRead MoreErnest Hemingway Superficial Superiority Essay755 Words   |  4 PagesHemingway: Superficial Superiority -----------------------------------------------------------------. Throughout the short stories of Ernest Hemingway people of color and other ethnicities are deemed inferior by the caucasian- americans in the story despite being portrayed by Hemingway in a bad light. In Hemingway’s short stories he explores ideas of racism through the portrayal of white americans having a false sense of superiority over other races. One instance where Hemingway explores racismRead MoreThe Killers And The Short Happy Life Of Francis Macomber1731 Words   |  7 Pages The Killers and The Short Happy Life of Francis Macomber By: Ernest Hemingway When analysing Ernest Hemingway s work in both â€Å"The Killers† and â€Å"The Short Happy Life of Francis Macomber† you come across many forms of literary devices that hemingway used throughout both novelas and how his application of the elements used in both stories. In both stories we see him use the themes of violence and grace when faced with violence as well as demonstrating the power relations between the characters ofRead More Margots Intentional Killing in Hemingways The Short Happy Life of Francis Macomber511 Words   |  3 PagesErnest Hemingway is known for writing novels and short stories with unresolved endings. In his short story, ?The Short Happy Life of Francis Macomber?, he definitely leaves his readers guessing. The question is whether Margot kills her husband, Francis, intentionally, or if she accidentally shoots him, because she tries to save his life. There are many points that could be argued for both conclusions, but my observations have led me to believe that Margot did indeed shoot her husband intentionally